Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
30km, so not that far.
From the Annual Report: 'Savannah intends to continue work on its Early Production Scheme for the remainder of 2023.
The first phase is expected to deliver an initial production of c. 1.5 Kbopd. In this first phase, following well testing, raw
crude will be processed in a 5 Kbopd capacity Early Production Facility (“EPF”), and the processed crude will be exported via a c. 30 km pipeline connected to the Niger-Benin pipeline.'
From the Harbour RENS
'Conditions to closing
The Acquisition constitutes a reverse takeover for the purposes of the Listing Rules for Harbour, with the intention that Harbour applies to retain its premium London listing on completion. Harbour will seek shareholder approval and re-admission of its Ordinary Shares and admission of the new Ordinary Shares upon completion to the premium listing segment of the Official List of the Financial Conduct Authority (the "FCA") (or a listing on the single category for equity shares in commercial companies if such new listing category, as contemplated in FCA Consultation Paper CP23/31, has been implemented by the FCA and taken effect at the relevant time) and to trading on the main market for listed securities of the London Stock Exchange. Harbour will, in due course, issue a circular to its shareholders to convene a general meeting to seek approval of the Acquisition and publish a prospectus.
The Acquisition is subject to, amongst other things, regulatory, antitrust and foreign direct investment approvals, as well as Harbour shareholder approval. Completion of the Acquisition is expected to occur in Q4 2024.'
I'd treat anything the ex-oil minister Djerassem Le Bemadjie says with extreme scepticism Lst. Exxon and Save have a contract and I'd be stunned if Exxon entertained any discussions with Chad over compensation without fully engaging Save.
Hi Zengas, not seen anything that specifies the amount. The only date I've seen in the media for the ruling is that of June 2025 from this article.
'As for the case between the Chadian government and Savannah Energy, ousted from the Chadian oil company by Ndjamena after it bought ExxonMobil's shares in Chadian oil, it will be decided from June 2025 before the Court of Arbitration International Paris, according to the Chadian side.
In the meantime, Ndjamena assumes the “nationalization” of its oil. “ We are working to compensate ExxonMobil for its shares ,” explains Djerassem Le Bemadjiel. He expects “ in return ” from the American major that it will “ compensate ” Chad for leaving without having restored the polluted soils.'
https://www-rfi-fr.translate.goog/fr/afrique/20230920-tchad-la-justice-am%C3%A9ricaine-ordonne-le-gel-des-comptes-de-cotco-%C3%A0-citibank-gabon?fbclid=IwAR0WMeMMEg1hisf5vLIKy2tGN1N2NREaw-0Q_v7ZShEHw2da9ZXWdp39bFI&utm_medium=social&utm_campaign=facebook&utm_source=shorty&_x_tr_sl=fr&
Thanks TiL,
The 2012 Petroleum act states this on pre-emption rights
' 23.Pre-emption
(1) Where a contractor decides to dispose of all or part of its interest under a petroleum agreement, the National Petroleum and Gas Corporation shall have the right of first option to acquire the interest on the same terms as agreed to with the potential buyer.
(2)If the agreed consideration is not a monetary value, the National Petroleum and Gas Corporation shall have the right to pay the corresponding monetary value of the agreed consideration.
(3)The National Petroleum and Gas Corporation's right of pre-emption shall lapse unless exercised within sixty (60) days after receiving notice of the acquisition.'
The recent Caltech fiasco will have ocurred after the 60 days notice so suspect that there's an element of the SS Govt. making it up as they go along. Hopefully the recent court ruling around the Chad situation will caution the SS govt. on trying something similar and will enable us to get this over the line.
Well if that happens it suggests that the company has done well and we should benefit from the subsequent realignment of the sp. You really are a one track record now you have sold out most of your holding, offering nothing but moans and gripes, so I guess we all can work out who you're playing in the Christmas Carol this year. Why don't you focus on your excellent investment of I3E where you ploughed your SAVE monies. Sometimes it's better to be patient and wait a while ;-)
TiL, if you do a Google search on Quentin Soulat, the LinkedIn link against his name states 'Chad · Head of Site · Savannah Energy'.
His LinkedIn page states he started in March 2023 so it could have just been unfortunate timing that the assess were Nationalised at the end of March. He's probably been twiddling his thumbs for 9 months!
I think Chad was different in that there was a one month time limit by which, if approval wasn't explicitly denied by the govt., then approval was deemed to have been given, so Save and Exxon could complete the purchase legally (obviously to be decided by the arbitration panel).
This is obviously not the case here and so I think what TiL is saying is plausible, though obviously with the Caltech affair, there are probably no certainties with the SS govt. either. Still, Save and Petronas are still pursuing this so you would like to think they still believe there is a good chance of completing.
Must be confident of continued growth if they are setting their own company up for this
SAVANNAH STAFFING SOLUTIONS LIMITED
Private limited company
15228140 - Incorporated on 23 October 2023
40 Bank Street, Canary Wharf, London, United Kingdom E14 5NR
SIC codes - 78109, 78200
https://find-and-update.company-information.service.gov.uk/company/15228140
Thanks Mr. B. Not seen anything from Chad news agencies yet. Couple of posts on social media in the last couple of hours from Chad that pique the interest e.g.
'What is Djerassem hiding on the SAVANNAH vs. Chad case?
Looks like the urine under the carpet is starting to smell'
'Savannah just won her lawsuit 😂
Little genius is terminated 🤣
The Chad '
Hopefully get some more details filtering through over the next day or so.
From a pure supply/demand perspective, then as long as our Oil (not that we have any really yet) can be sold, $140 would obviously be better for Save than $80. $140 is only going to be hit if some of the existing supply can't get to market and there is still the same demand as now, so as long as ours can then there would be great financial benefits to SAVE.
Obviously, however, there are lots of other important reasons for not wanting this to happen, as a lot of people would suffer financial hardship if it did, not to say that it would only likely come about if there is an escalation in the current conflict which nobody wants. So yes, $80-100 is good for me too.
RR's post was from Malcy's Blog, not RR's words. If you want to see what Malcy has been saying about SDX use the link below
https://www.malcysblog.com/?s=sdx
Https://www.zawya.com/en/press-release/africa-press-releases/media-invited-to-attend-libya-energy-economic-summit-noxdbz7g
Energy Capital&Power (www.EnergyCapitalPower.com) extends an official invitation to energy and general news media to participate at the second edition of the Libya Energy&Economic Summit – scheduled for November 8-9 in Tripoli’s Rixos Convention Centre. Media will have the opportunity to be at the center of this historic summit.
In partnership with the Office of the Prime Minister and with the support of the Ministry of Oil and Gas and the National Oil Corporation (NOC), this historic summit is poised to bring together leaders and participants from the energy, finance, trading and infrastructure sectors. The 2023 event follows the resounding success of its inaugural edition in 2021, which marked a historic milestone as the first major energy investment event held in Tripoli in a decade. Media representatives are invited to cover this second edition, one that promises to shape the future of Libya's energy landscape.
The two-day program features an official reception on November 8 with keynotes delivered from dignitaries as well as strategic panel discussions and presentations across two stages on November 9. The reception and summit feature keynotes from Libyan leaders including Abdulhamid M. Al Dabiba, Prime Minister of the State of Libya; Farhat Omar Bengdara, Chairman of the NOC; and Mohamed Oun, Minister of Oil and Gas of Libya.
International invited digitaries include Giorgia Meloni, Prime Minister of the Republic of Italy; Robert Abela, Prime Minister of the Republic of Malta; and Alparsian Bayraktar, Minister of Energy and Natural Resources of the Republic of Turkey.
The Libya Energy&Economic Summit 2023 is proud to work with sponsors TotalEnergies, BGN, Repsol, ConocoPhillips, Savannah Energy, OMV and more, and with official supporters Renewable Energy Association of Libya, AmCham Libya, Libyan British Business Association, U.S.-Libya Business Association, African Energy Chamber, and Rystad Energy.